Enablence Gets Wave7 On The Cheap

Enablence Technologies Inc. (TSXV: ENA) has agreed to acquire Wave7 Optics Inc., an Alpharetta, Ga.-based provider of optical access system for video, data and telephony services. The deal is valued at $10.5 million in Enablence stock. Wave7 had raised over $95 million in total VC funding since 2000, from firms like Advanced Technology Ventures, Ballast Point Venture Partners, Morgenthaler Ventures, Oak Investment Partners, Navigation Capital Partners, Lucent Ventures and Armada Venture Group.

 

PRESS RELEASE

 

Enablence Technologies Inc., a supplier of planar lightwave circuit (PLC) based components for the Fiber-to-the-Home (FTTH), metro, and long haul telecommunication markets, today announced that it has signed a definitive agreement (“Agreement”) to acquire all of the outstanding shares of Wave7 Optics, Inc. ('Wave7 Optics”) subject to certain approvals, consents and conditions.

 

Under the terms of the Agreement, Enablence will acquire, through a wholly owned US subsidiary, all the shares of Wave7 Optics for an aggregate purchase price of US $10.5 million and 2,078,385 common shares of Enablence. All conditions pursuant to the Agreement are expected to be fulfilled prior to May 15, 2008.

Wave7 Optics is a global provider of FTTH systems that deliver voice, video, and data services. Wave7 Optics is deploying a universal access platform that supports Gigabit Ethernet Passive Optical Network (GE-PON) systems and Gigabit Passive Optical Network (GPON) systems, as well as point-to-point Ethernet. The platform is marketed under the name of Trident7